Foxconn drops libel suit against journalists

Foxconn, the manufacturer of Apple’s iPod, has withdrawn the defamation lawsuit it filed against two Chinese journalists over claims of labor abuse at its iPod factory. Foxconn and the Chinese newspaper China Business News issued a joint statement saying the two sides had resolved the dispute after apologizing to each other “for the disturbances brought to both of them by the lawsuit.” Last week, after a wave of criticism, Foxconn reduced its demands in the suit to a token 1 yuan (12 U.S. cents) from 30 million yuan ($3.8 million) and filed to unfreeze the personal assets of the two journalists, reporter Wang You and editor Weng Bao of the China Business News.